Gas

At Palette, we use the Palette Chain, which is a blockchain specialized in the entertainment field as for Ethereum, which is a decentralized world computer. Applications built on the Palette Chain are focused on the entertainment areas, so it is possible to avoid instability of gas fees due to applications such as Defi which generates transactions with high gas fees and high frequency.

At Palette, gas fees for NFT transfers are free so that users can purchase and send NFT without using any cryptocurrencies including PLT. Cryptocurrency and NFTs are both assets issued on the blockchain, but they do not necessarily have to coexist. Palette helps make NFTs more widespread by the free charge of gas fees.

In the case of public blockchains, gas fees can be set to protect the network from DDoS attacks and malicious miners, while the Palette chain does not need to be designed for DDoS attacks. To improve the user experience, users can make transactions on the Palette chain for free. This means that users who submit certain transactions on the Palette chain do not have to pay gas fees. However, as an incentive for consensus nodes, we will set gas fees in some of the operations described below in the future, and the fees are distributed to the Palette Consortium through the Palette Reward Pool.

・Deploy NFT contract

・Mint NFT